Exit Planning Strategies
Selling a Volunteer Services Business
No one said selling your business in a depressed economy would be easy. Fortunately, a volunteer services business sale isn't as scary as it seems.
Dire economic forecasts have forced many volunteer services business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Qualified buyers are constantly looking for attractive volunteer services businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your volunteer services business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Maximizing Sales Price
There are no simple ways to sell a volunteer services business. If you don't know what you're doing, your business could languish on the market for months or even years. A business broker handles much of the legwork involved in the sale. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their volunteer services businesses.
Negotiating Your Sale
There's no room for error when you negotiate the sale ofa volunteer services business. Information is the key to a great volunteer services business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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